Member Info for GingerHippo

@Seadogsteve, I'm not sure what decisions you have to make at all. We're suspended so there is literally nothing to do.

My strategy is to get on with my 9-5 while I wait for news.

Totally agree with the original post Ian. In my experience negotiations are very often completed at the 11th hour.

Anyone remember Frasier from Dad's Army.....?

One second it was "we're doomed. Doomed!"
Then "I never doubted you for a second Captain!"

I’m not a lawyer but I think if there is a market for Pd mines the BoD would NOT be allowed to sell to a related company at cost, but at market value. Market value would be ascertained by the bids or recent similar sales (eg Impala). IMO

HH, then please could you guys stop talking about me, stop bringing my name into something that has nothing to do with me and stop calling me a maggot just because I have a different opinion. Honestly, I'll be fine with that.

Twice today I've come on here to see you guys have been talking about me, so twice I have responded. Why don't you guys just stop talking about me completely and if you're not happy with a post of mine, just ignore it.

Oh man, you have no idea how funny it is from my perspective....

You're the guys disrupting the board btw. I wouldn't have said a word here today if you hadn't called a maggot out of the blue.

I have such great timing! Just came back on to see this.

Man oh man WG & Pat, I'm laughing so hard. I'm sure Richard is too because we're the only 2 people in the world who know for certain that we're not the same person. You've made something up in your own mind and you're stating it as fact. Of course you have no way of knowing if I'm telling the truth or not, but please understand that you look really really silly in my eyes since I know for certain that you're wrong.

Likewise, Pat, I'm not motivated by the things you made up. I'm not down on AML nor am I short. Again, you have no way of knowing. Only I know what you just said as 'obvious' is completely untrue.

Why do people make such assumptions? Investing isn't a guessing game you know.

Everyone should relax. This is going to turn out beyond brilliant.

TDT

Indeed. And the fact that we're suspended prevents PIs panic selling when IIs would probably be buying right now.

Coupla points:

1) It's not 'finger in the air' to value a company without a market cap. Business valuations happen all the time. The Bod aren't going to sell the company for cheap just because the sp is far too low.
2) It's not about why the BoD would want to stay in AIM. They've said they want to, that's good enough for me.
3) The existence of an NDA is itself pure speculation, although I concede it is likely
4) This is not a normal business whose operations are ticking over nicely and if a nomad leaves you can expect a new one within days. What's likely happening at EUA is far from ordinary.
5) I fully agree with the below that if we were not close to selling MT we are wasting time by not drawing down the Sinosteel loan. The implication being that there's a good chance we'll sell MT.
6) Negotiations take a long time and it's normal to hear nothing for ages and then suddenly it's all done and dusted in one go.

Looking into it further, I can see that the £365M raised from the rights issue wasn't included in the Q1 results, so by 20 April the acid test ratio should be about 1:1, which isn't great but means they can actually pay their bills for the next 12 months.

CC, I believe the bonds are sitting in non-current liabilities.

Current liabilities refers to liabilities due within 12 months and is mainly bank loans, trade payable and accrued expenses.

That was my first post.

My second post was to try and understand better where CarsCoffee is coming from. I'm interested in the corporate finance aspects of the company. From their post, it seems that CC has some insight that I don't and I welcome a reasoned post as to why the current acid ratio is not problematic.

If I had a pound for every time I saw someone on LSE saying if you're not invested you should go away, I could quit my 9-5. This is a board for anyone interested in a company, not just for shareholders. And the board should certainly have balance between pros and cons (see my earlier comment about some people being blinkered).

Please, if you are able to address my actual point so I could understand your investment case better I'd be most interested.

Current assets £602.8M
Current liabilities £930.0M

New products, stabilising production and reducing expenses is all good, but you still have to somehow come up with an additional £327.2M within 12 months.

I concede that if they can restructure their debt so it doesn't fall due within 12 months they'll be in a much better position.

This board makes fascinating reading. AML has to sell enough cars to turn around a £100M loss on the quarter into a profit of £300M within 12 months just to pay their bills. I hope they can do it and I'm glad the sp has gone back up some, but I worry for those of you who continue to vilify anyone who points this out. Investing is very much about protecting the downside and I worry that some of you are blinkered to any downside whatsoever.

I'm not a shorter, I'm just a guy with a keyboard. I know I'm about to be shouted down but I feel this needs to be pointed out.

Whatever you do, please don't invest more than you can afford to lose.

Because we'd lose the ISA.

It's a moot point anyway. We won't delist.

Yes.

But will be a moot point

How would they pay a 10p divi without selling MT?

We don't have any brought forward reserves in the balance sheet......

Hopefully sell MT soon

I'm just going to say it one more time then I'm logging off.

Stop telling people to hold. You are not in a position to advise.

Moreover, the company has current liabilities of £900M with current assets of only £600M so they are struggling to keep the lights on. How are they going to get the cash to pay off their liabilities when they're loss-making?

Oversold? That's just your opinion. Not fact. Please don't mislead newbies.